Thread regarding CVS layoffs

Lot of Red Lights Flashing ....Something Has to Give

So many things going the wrong direction.

  1. Caremark facing cost pressure from customers wanting to pay less and pharma wanting to pay more.
  2. Oak Street cost a ton of money....likely way too much
  3. New org started and ki-led in months after new guy decided he didn't want to work there.
  4. New term of Revenge Surgery where people are getting procedures they put off during COVID. UHC reported it but Aetna feeling it as well.
  5. Heinz / Kraft suing Aetna for performance.
  6. Great hallway quote by mid level mucky much 'Karen overpaid for Oak Street so she will want to tighten belts'
  7. CVS stock down 24% YTD which is worse than the overall Market.
  8. August will be release of quarterly results. Will investors as 'how will you fix'?

Both Aetna and CVS, before merger, have a history of cutbacks when things start going south.

by Anonymous
| 2661 views | | 9 replies (last July 18, 2023) | Reply
Post ID: @OP+1nzOF1zQ
Comment! It's anonymous!

9 replies (most recent on top)

I agree on the layoffs coming but not the part of EVPs never touched. Karren has been clearing out everyone at top for the past year.
Dan Finke
Paul Wingle
Alan Lotvin
Kimi King
Kelvin McLaurin
....and many more

Stock options become vested in April and in a cloud of money they were gone.

by Anonymous
| | Reply
Post ID: @6dsk+1nzOF1zQ

On Town Hall today read between lines, Karen is pushing the layoffs. Notice never that EVP or above group never get touched.
She keeps hiring her inner circle while all others pay the price. Mentions inflation and costs, but employees never considered in their hardships with inflation.

by Anonymous
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Post ID: @6pcl+1nzOF1zQ

Corporate layoffs (PBM, Aetna, etc). I know nothing about store level.

by Anonymous
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Post ID: @5qje+1nzOF1zQ

sounds like programmers in Aetna are on the chopping block.

by Anonymous
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Post ID: @4kbq+1nzOF1zQ

So where or what dept are these layoffs gonna happen , you speak of?
No way it’s store level !!

by Anonymous
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Post ID: @4tfq+1nzOF1zQ

Lists are done. It’s happening. August will be ugly.

by Anonymous
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Post ID: @3jjd+1nzOF1zQ

Major corporate layoffs will be announced mid august. Leadership in this company is garbage. Karen is a joke. And yet the ones who will pay the price are those lowest on the totem pole.

by Anonymous
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Post ID: @3nrw+1nzOF1zQ

sociates in my store are frankly giving up and looking for other jobs not good when you have non to work already frankly a mess.

by Anonymous
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Post ID: @aag+1nzOF1zQ

Very well said! Yes, alot of things going wrong right now with CVS. I personally think the cracks in the foundation are starting to show. Only a matter of time before they get worse.

by Anonymous
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Post ID: @yxn+1nzOF1zQ

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